Kazazian Asset Management LLC Makes New Investment in Snowflake Inc. (NYSE:SNOW)

Kazazian Asset Management LLC acquired a new position in Snowflake Inc. (NYSE:SNOW) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,200 shares of the company’s stock, valued at approximately $1,266,000. Snowflake accounts for about 1.0% of Kazazian Asset Management LLC’s portfolio, making the stock its 23rd largest position.

Other hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment bought a new stake in Snowflake in the third quarter worth about $25,000. Stonebridge Financial Group LLC bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $29,000. Blue Bell Private Wealth Management LLC raised its position in shares of Snowflake by 189.5% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 220 shares of the company’s stock valued at $34,000 after purchasing an additional 144 shares during the period. Perkins Coie Trust Co raised its position in shares of Snowflake by 136.3% in the fourth quarter. Perkins Coie Trust Co now owns 241 shares of the company’s stock valued at $37,000 after purchasing an additional 139 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of Snowflake in the fourth quarter valued at approximately $38,000. Institutional investors own 65.10% of the company’s stock.

Snowflake Trading Down 1.3 %

NYSE:SNOW opened at $154.35 on Wednesday. The company has a fifty day moving average of $173.01 and a 200 day moving average of $148.93. Snowflake Inc. has a 52 week low of $107.13 and a 52 week high of $194.40. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $50.95 billion, a P/E ratio of -45.53 and a beta of 1.07.

Insider Activity at Snowflake

In related news, EVP Christian Kleinerman sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $186.50, for a total transaction of $2,797,500.00. Following the completion of the sale, the executive vice president now directly owns 552,930 shares in the company, valued at $103,121,445. This represents a 2.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank Slootman sold 100,000 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the transaction, the director now owns 195,281 shares of the company’s stock, valued at $30,268,555. This trade represents a 33.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 287,648 shares of company stock worth $48,387,318 in the last three months. 7.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SNOW has been the topic of several research reports. KeyCorp boosted their price target on shares of Snowflake from $210.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 27th. Canaccord Genuity Group boosted their price target on shares of Snowflake from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Tuesday, February 25th. Wedbush set a $210.00 price target on shares of Snowflake in a research report on Wednesday, January 22nd. Monness Crespi & Hardt boosted their price target on shares of Snowflake from $188.00 to $230.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Wolfe Research raised shares of Snowflake from a “peer perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.92.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.